Enbridge Inc. (NYSE:ENB) Shares Bought by Simplicity Solutions LLC

Simplicity Solutions LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,512 shares of the pipeline company’s stock after acquiring an additional 892 shares during the period. Simplicity Solutions LLC’s holdings in Enbridge were worth $595,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Coppell Advisory Solutions Corp. bought a new position in shares of Enbridge during the fourth quarter worth about $25,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Enbridge during the fourth quarter worth about $25,000. Baystate Wealth Management LLC lifted its position in shares of Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 644 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Enbridge during the second quarter worth about $26,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Enbridge during the second quarter worth about $26,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on ENB shares. Stifel Nicolaus started coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

Shares of NYSE ENB opened at $33.33 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The firm’s 50-day moving average price is $35.03 and its two-hundred day moving average price is $34.65. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.30. The stock has a market capitalization of $70.85 billion, a P/E ratio of 15.87, a P/E/G ratio of 3.17 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. As a group, sell-side analysts forecast that Enbridge Inc. will post 2.13 earnings per share for the current year.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.